California home sales up 6.7% in September

Now is the time to BUY! 

California home sales picked up in September from the same month last year as prices came down.

Sales were up 6.7% as bargain hunters paying cash snapped up foreclosures. Sales figures remained below the average for September in Southern California and the Bay Area, according to DataQuick, a real estate information service based in San Diego. As is typical, sales were lower than in August, down 6.2%, for a total of 35,404 homes sold last month.

The median price for a home sold in California in September was $249,000, down 6% from a year earlier and the same as in August. That makes for the 12th consecutive year-over-year monthly decrease in the median, which is the point at which half the homes sold for more and half for less.

John Walsh, DataQuick president, said the pool of potential buyers was growing, even though that demand has not yet shown up in the numbers.

“Empty-nesters want something smaller, growing families want something bigger,” he said. “People still die, they get married, retire — all of this generates demand. And only a fraction of that demand is being met in today’s market.”

Lisa Schoeffler, CRS, ASP
Prudential California Realty
805-766-7373
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